Tag

Lee County

Alabama residential sales in September increase 11%; 76% of local markets experience YOY sales gain!!

By | Ashley

As Reported by Alabama Center for Real Estate (ACRE)

Published: Friday, October 24, 2014, 10:48 AM     Updated: Friday, October 24, 2014, 10:53 AM

This is super news for our State. Please enjoy this read and call me for all of your Real Estate needs. Team Ashley looks forward to working for you!

Alabama residential sales totaled 3,957 units in September, an increase in sales growth of 11.1 percent from the same period a year earlier and 201 units above of our monthly forecast. September joins June and July as the only months in 2014 where sales have eclipsed last year. Nationally, sales were off 1.7 percent in September from the prior year. See more details of how Alabama compares to the broader US market here.

The YTD Alabama sales forecast through September projected 35,170 closed transactions while the actual sales were 34,169 units, a 2.8 percent cumulative variance. YTD sales through September have been sluggish in most markets across the State but remain 2.4 percent above the 2013. Sales were up 3.3 percent in the third quarter compared to 2013.

Across Alabama, 76 percent of local markets reported positive sales growth compared to last September. In comparison, this figure was 64 in August and 48 percent in July. This figure also remains at 54 percent when taking into account total YTD sales compared to 2013.

Pricing: While the return of more consistent year-over-year sales gains is encouraging news, the lead story in 2014 relates to pricing. The Center shared in earlier reports that pricing represents the primary indicator that still had the greatest upside in the future. At least through September, this has come to fruition as the YTD median sales price is up in 19 of 25 or 76 percent of local markets. While this is good news for the market, as prices increase, sales (the typical lead story) attributable to investors bargain hunting will diminish the ability of this “buyer profile” to push the sales needle in the future. Distressed sales continue to significantly diminish as a percentage of total sales across the US, a trend most market watchers content will continue in the future.

To read the article in it’s entirety, please click on the following link.

http://blog.al.com/acre/2014/10/alabama_residential_sales_in_s.html

Thank you for visiting my website. Please make sure you browse my current listings while you are here. I have properties in ALL price ranges!

 

Lee County area residential sales in August improve 25% from prior year; YTD sales up 6%

By | Ashley | No Comments

 

Please enjoy this exciting read on the real estate market improvement and call me TODAY for all of your Real Estate needs! Team Ashley welcomes the opportunity to work for you!

Reported By Alabama Center for Real Estate (ACRE) 
on September 25, 2014 at 8:53 AM

Monthly Sales: Lee County residential sales totaled 142 units in August, a significant improvement in sales growth of 24.6 percent from the same period a year earlier. August sales were 7 units above our monthly forecast. The year-to-date sales forecast through August projected 996 closed transactions while actual closings were 1,009 units.

Supply: The Lee County housing inventory in August was 820 units, a decrease of 7.4 percent from August 2013 and 40.8 percent from the month of August inventory peak in 2010 (1,385 units).

August inventory in Lee County also decreased by 1.8 percent from the prior month. This direction is consistent with historical data indicating that August inventory on average (’09-’13) decreases from the month of July by 4.0 percent.

The inventory-to-sales ratio in August was 5.8 months of housing supply. Restated, at the August sales pace, it would take 5.8 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) is considered to be approximately 7 months during the month of August. This represents the first local market in Alabama that can be officially labeled a seller’s market. The last time the market experience 5.2+/- months of housing supply was August 2006 when it was 5.3 months.

Demand: Residential sales decreased by 11.3 percent from the prior month. This direction is consistent with seasonal historical data indicating that August sales on average (’09-’13) decreases from the month of July by 30.0 percent.

Existing single family home sales account for 51 percent (down from 61% in Aug’13) of total sales while 25 percent (same as Aug’13) were new home sales and 24 percent (up from 13% in Aug’13) were condo buyers.

Pricing: The Lee County median sales price in August was $174,200, a 4.3 percent decrease from last August. The higher than normal of condo sales may have skewed, in this case, lowered the August median sales price. The August median price slipped 7.0 percent compared to the prior month. Historical data (’09-’13) indicates that the August median sales price traditionally decreases from the month of July by .1 percent. Pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as to pricing trends is appropriate and we recommend contacting a local real estate professional for additional market pricing information.

Industry Perspective: “The August National Housing Survey results lend support to our forecast that 2015 will likely not be a breakout year for housing,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “The deterioration in consumer attitudes about the current home buying environment reflects a shift away from record home purchase affordability without enough momentum in consumer personal financial sentiment to compensate for it. To date, this year’s labor market strength has not translated into sufficient income gains to inspire confidence among consumers to purchase a home, even in the current favorable interest rate environment. Our third quarter Mortgage Lender Sentiment Survey results, to be released later this month, are expected to show whether mortgage demand from the lender perspective is in line with consumer housing sentiment.”

To read the article in it’s entirety, please follow the link below.

http://blog.al.com/acre/2014/09/lee_county_area_residential_sa_9.html

Make sure you take the time to view my listings while you are on my site.  We have something for every buyer!

Lee County Area Residential Sales in June Improve 10% from Prior Year!!

By | Ashley

This is super news for Lee County, folks! Please enjoy this exciting read and call me TODAY for all of your Real Estate needs! Team Ashley welcomes the opportunity to work for you! We will get her SOLD!

Reported By Alabama Center for Real Estate (ACRE)
on June 24, 2014 at 7:45 AM, updated June 24, 2014 at 7:48 AM

Monthly Sales: Lee County residential sales totaled 186 units in June, a significant improvement in sales growth of 10.1 percent from the same period a year earlier. June sales were the best on record for the month and were 28 units above our monthly forecast. The year-to-date sales forecast through June projected 689 closed transactions while actual closings were 707 units.

Supply: The Lee County housing inventory in June was 884 units, a decrease of 8.4 percent from June 2013 and 41.8 percent from the month of June inventory peak in 2010 (1,519 units).

June inventory in Lee County also decreased by 1.4 percent from the prior month. This direction is consistent with historical data indicating that June inventory on average (’09-’13) decreases from the month of May by 4.6 percent.

The inventory-to-sales ratio in June was 4.8 months of housing supply. Restated, at the June sales pace, it would take 4.8 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) is considered to be approximately 6 months during the month of June. This represents the first local market in Alabama that can be officially labeled a seller’s market. The last time the market experience 4.8+/- months of housing supply was June 2006.

Demand: Residential sales increased by 10.1 percent from the prior month. This favorable direction is consistent with historical data indicating that June sales on average (’09-’13) increases from the month of May by 8.7 percent.

Existing single family home sales account for 59 percent (up from 51% in June’13) of total sales while 23 percent (down from 29% in June’13) were new home sales and 18 percent (down from 20% in June’13) were condo buyers.

To read the article in it’s entirety, please follow the link below.

http://blog.al.com/acre/2014/07/lee_county_area_residential_sa_7.html

Make sure you take the time to view my listings while you are on my site.  We have something for every  buyer!

Lee County area residential sales in May improve 20% from prior year!

By | Ashley

This is super news for Lee County, folks! Please enjoy this exciting read and call me TODAY for all of your Real Estate needs!

Reported By Alabama Center for Real Estate (ACRE)
on June 24, 2014 at 7:45 AM, updated June 24, 2014 at 7:48 AM

Monthly Sales: Lee County residential sales totaled 169 units in May, a significant improvement in sales growth of 19.9 percent from the same period a year earlier. May sales were 26 units above our monthly forecast. The year-to-date sales forecast through May projected 531 closed transactions while actual closings were 521 units.

Supply: The Lee County housing inventory in May was 897 units, a decrease of 9.8 percent from May 2013 and 40.8 percent from the month of May inventory peak in 2010 (1,516 units).

May inventory in Lee County increased by 1.1 percent from the prior month. This direction is consistent with historical data indicating that May inventory on average (’09-’13) increases from the month of April by 1.2 percent.

The inventory-to-sales ratio in May was 5.3 months of housing supply. Restated, at the May sales pace, it would take 5.3 months to absorb the current inventory for sale. The market equilibrium (balance between supply and demand) is considered to be approximately 6 months during the month of May. This represents the first local market in Alabama that can be officially labeled a seller’s market. The last time the market experience 5.3 months of housing supply was August 2006.

Demand: Residential sales increased by 34.1 percent from the prior month. This favorable direction is consistent with historical data indicating that May sales on average (’09-’13) increases from the month of April by 22.7 percent.

Existing single family home sales account for 50 percent (up from 57% in May’13) of total sales while 24 percent (same as May’13) were new home sales and 16 percent (down from 19% in May’13) were condo buyers.

Pricing: The Lee County median sales price in May was $178,500, a 9.5 percent increase from last May. In addition, the May median price improved 4.5 percent compared to the prior month. Historical data (’09-’13) indicates that the May median sales price traditionally increases from the month of April by 4.1 percent. Pricing can fluctuate from month-to-month as the sample size of data (closed transactions) is subject to seasonal buying patterns so a broader lens as to pricing trends is appropriate and we recommend contacting a local real estate professional for additional market pricing information.

To read the article in it’s entirety, please follow the following link:

http://blog.al.com/acre/2014/06/lee_county_area_residential_sa_6.html

Down Payment Funds Looking for Buyers!

By | Ashley

As Written & Reported By:

 

download

June 16, 2014

Home buyers seeking assistance paying their down payments are better off in Southern real estate markets than elsewhere, according to a new survey and analysis by Down Payment Resource (DPR).

The DPR’s June Home Ownership Program Index analyzed 1,654 programs available nationwide. Across Down Payment Resource’s databank, nationally, 90 percent of programs are funded with the greatest number of programs available in the South.

. The Index measures home ownership programs available across the country and the percentage of funded programs. DPR, the nation’s only search engine for home buyer programs, aggregates the benefits and eligibility requirements for programs including down payment assistance, grants, affordable first mortgages, and tax credits.

To read the article in it’s entirety: please visit the following link:

http://www.realestateeconomywatch.com/2014/06/southern-down-payment-funds-looking-for-buyer

Enjoy. It’s a solid read. Remember, whether you are in the market to list or sell, Team Ashley is READY to WORK for  you! Call me today for an appointment!

Lee County Residential Sales Up 9% in 2012; Inventory Down 12%!!

By | Ashley | No Comments

By Alabama Center for Real Estate (ACRE)
on February 07, 2013 at 7:31 AM, updated February 07, 2013 at 7:35 AM

Lee County residential sales growth of 8.9 percent led Alabama’s midsize markets in 2012. During the month of December, homes listed for sale dipped below the thousand unit mark for the first time since August 2006.
Click here to view or print the full report.
 
Supply: The Lee County housing inventory in December was 921 units, a decrease of 12.0 percent from December 2011 and 26.2 percent from the month of December’s peak in 2010 (1,248 units).

There was 12.1 months of housing supply (6 months represents balanced market) in December 2012 versus 13.3 months of supply in December 2011, a solid decrease of 8.6 percent. Continued improvement in the decline of the months of supply would be welcome news.

December inventory in Lee County decreased by 9.5 percent from the prior month. Historical data indicates that December inventory on average (’07-’11) traditionally decreases from the month of November by 4.6 percent.

Lee County residential sales up 9% in 2012; homes listed for sale down 12% in December. Infograph courtesy of ACRE. All rights reserved.

Demand: December residential sales were down 8.4% from the prior month. This movemen

t contrast historical data indicating that December sales, on average (’07-’11), increase from the month of November by 14.1 percent.

Existing single family home sales accounted for 58 percent (same as in Dec’11) of total sales while 30 percent (up from 24% in Dec’11) were new home sales and 12 percent (down from 18% in Dec’11) were condo buyers.

Pricing: The Lee County median selling price in December was $166,250, an increase of 15.2 percent from last December ($144,375). The December median price also improved by 10.8 percent when compared to the prior month. Historical data (’07-’11) indicates that the December median selling price traditionally decrease from the month of November by 1.2 percent so this improvement from recent trends is encouraging news.
Real estate sales are seasonal and thesales pace slows during the winter months resulting in a higher degree of statistical volatility. With that said, seventy-two percent (18 of 25) of the local housing markets across the State experienced year-over-year sales growth in 2012 and that is welcome news for Alabama consumers as well our state’s real estate community. As for the latest economic forecast entering the new year, according to Global Insight’s most recent short-term outlook, “The economy still has only weak forward momentum. Some underlying fundamentals are improving—most importantly, housing. We expect that the fog of uncertainty (US fiscal policy) will gradually clear during 2013, setting the stage for a broad-based improvement in economic growth in 2014.”
This is FANTASTIC news for Lee County. Please call me for all of your Real Estate needs!

 

Alabama Home Sales Increase!

By | Ashley | No Comments
Alabama Home Sales Increase

Chart showing an increase in Alabama Home Sales.

November residential sales in Alabama experienced an 12.6 percent increase when compared to November 2010. The last time our state’s real estate market experienced positive sales growth in November when compared to the previous year was November 2009.

While this is favorable news, the market must be mindful that last November was the fifth month after the expiration of the home buyer tax credit and the comparative sales figures reflected the November cyclical low of 2,471 closed units.

November sales were again bolstered by a rebound in closed transactions from local markets that were previously disrupted by the natural disasters of April 27th. The bounce back is apparent when reviewing sales percent change from last November in these impacted areas: Tuscaloosa (sales up 55%), Athens-Limestone County (up 48%), Marshall County (up 15%) and Walker County (up 61%).

In November, Alabama residential sales were on par with the US market which showed an increase of 12.2 percent from the prior year (November), according to the National Association of REALTORS (NAR). NAR also reported that the South region experienced an increase of 12.3 percent from last year. Investors accounted for 19 percent of nationwide sales while 28 percent were all-cash sales and 35 percent were first-time home buyers.

Demand: Residential sales are seasonal and typically peak during the summer and as anticipated, November statewide residential sales were 7.8 percent down from the prior month (October 2011). This movement is also consistent when compared to historical data indicating that November sales, on average (’06-’10), traditionally decrease from the month of October by 8.1 percent.

In comparison, US sales increased 4.0 percent while the South region reflected a 2.4 percent increase from the prior month (October 2011).

Year-to-date through November, Alabama residential sales were 1.6 percent ahead of last year’s pace. In October, this figure was .8 percent ahead of last year. If the recent trends continue in December, the year-end figures will reflect the first positive annual residential sales growth since 2005.

Information taken from: Alabama Center for Real Estate.

The data relating to real estate for sale on this web-site comes in part from the Internet Data Exchange Program of Lee County Association of REALTORS. Information is deemed reliable but is not guaranteed.

This IDX solution is (c) Diverse Solutions 2020.